Nevis – A Welcome Investment Move
Nevis continues to be a magnet for Foreign Direct Investment (FDI) in key sectors. The Island, often described as the Caribbean’s ‘richest jewel’, has excellent infrastructure, a qualified workforce that boasts one of the highest literacy rates in the world and a growing financial service sector to satiate any business need. It has a distinctive constitutional arrangement of being part of the Federal Parliament while having a separate parliament and its own Nevis Island Administration headed by a Premier. This independent country is also a member of the Commonwealth, European Union, and CARICOM. With a stable political and economic status, it is easy to see why this well-developed and regulated International Financial Centre attracts significant FDI.
Fostering Foreign Direct Investment
Nevis enthusiastically welcomes foreign direct investment and was awarded the title of Best International Financial Centre Services Destination in the Caribbean by the Global Banking & Finance Review in the recent past for two years running. The Government of Nevis greatly encourages foreign direct investment into the priority sectors including financial services, tourism and sports, agriculture and agro-processing, information technology, light manufacturing, education services, and renewable energy. As such, it has instituted a number of investment incentives for businesses considering the option of locating in Nevis, encouraging both domestic and foreign private investment.
“NEW LEGISLATION IS REGULARLY INTRODUCED TO OFFER A GREATER VARIETY OF RELEVANT INTERNATIONAL CORPORATE VEHICLES.”
The Government handles foreign investors and local investors equally with respect to the incorporation, acquisition, expansion, management, conduct, operation, and sale or other disposition of investments in its territory. This forward-thinking government actively supports FDI by permitting foreign investors to hold up to 100% of an investment and by guaranteeing that there are no restrictions on the repatriation of profits. Corporate tax rates have been reduced from 35% to 33% and there is full tax exemption for 15 years on all profits for companies who qualify. There is NO income tax, NO capital gains tax, NO wealth tax, NO death duty or inheritance tax.
New legislation is regularly introduced to offer a greater variety of relevant international corporate vehicles. These include, Limited Liability Corporations (LLCs), International Business Corporations, International Trusts, Multiform Foundations, Insurance Companies and Mutual Funds. The island of Nevis continues to make noteworthy improvements to the quality of the financial products and services offered by the jurisdiction. Steps such as the passing of the Nevis Limited Liability Company Ordinance (NLLCO) 2017 and the Nevis Business Corporation Ordinance (NBCO) of 2017 verify this commitment. These measures have been viewed as positive steps in the evolution of the Nevis international financial centre in serving to create a transparent, competitive and high quality jurisdiction for financial product/service providers
These polices have helped Nevis see some of the strongest economic growth in eastern Caribbean.
The future continues to look bright
Nevis investment opportunities have proven over and over again to be sound investment moves. The government gives incentives to investors that are willing to invest locally which in the long term help continue the steady growth of the economy of Nevis. There are many excellent reasons to invest in Nevis and take advantage of the investment opportunities at hand. Nevis, as always, is open for business.
Nevis Investment Promotion Agency
P.O. Box 1063
Suite 1 Horsfords Business Complex 2nd Floor
Nevis, West Indies